United States:
Evaluating Reg BI Compliance
26 June 2020
Groom Law Group
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Unless the Securities and Exchange Commission (SEC) has a
significant change of heart, the June 30 compliance date of its Regulation Best
Interest (Reg BI) is almost upon us. However, broker/dealers
(B/Ds) should not rest easy. In a Risk Alert published by the
Office of Compliance Inspections and Examinations (OCIE), that
agency announced how it will be investigating firms to evaluate Reg BI
compliance. The alert is a valuable resource that firms might
utilize to check their preparedness. It also allows, and
encourages, continued work on compliance after June 30,
particularly if the COVID-19 pandemic has hampered full
compliance.
To read the PLANADVISER article, "Evaluating Reg
BI Compliance", with Groom Principal David Kaleda's top
five takeaways from the alert, click here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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